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Profit, Loss and Discount(Class 8)
Q. A shopkeeper purchased a pair of shoes for Rs.800. He sold it at a discount of 15% on the marked price. If the shopkeeper incurred a loss of 10%, calculate the selling price of the shoes.
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1 Reply
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It is given in the question that,
Cost price(purchasing price) of pair of shoes = Rs 800
Discount on marked price(MP) = 15%
Loss = 10%
Since there was a loss of 10% on selling the shoes and the cost price of the shoes was Rs 800, this means, selling price of the pair of shoes = 800 – (800*(10/100))
= Rs 720
Therefore the selling price of the pair of shoes was Rs 720.
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Now, let the marked price(MP) of the shoes be Rs’x’.
Then the selling price would have been = x-((x*15)/100)
= Rs 0.85*x————–equation (i)
and we already know that the selling price was Rs 720, therefore we can write,
0.85*x = 720
x = 720/0.85
x = Rs 847
Therefore the marked price of the pair of shoes was Rs 847.
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